Metro Bank has provided Kingsway Properties London with a £14m investment facility to support the acquisition of a five-storey office building in central London.
The funding has allowed the commercial property specialist to purchase Hend House (pictured above), a 15,000 sq ft, Grade II-listed building on Shaftesbury Avenue.
The building will become the HQ of multi-channel communications company MBA Group.
Bachar Aintaoui, director at Kingsway Properties London, praised the challenger bank for its collaborative approach to its funding requirements.
“Metro Bank’s friendly, approachable and ‘can-do’ attitude meant the credit approval process was quick and we were able to complete the acquisition of Hend House within our target date.
“Needless to say, we will be working with Metro Bank again on our future funding needs.”
Mark Stokes, managing director of commercial banking at Metro Bank, added that it was delighted to have helped the commercial property specialist to secure this prime site.
“By getting to know Kingsway’s business and the people behind it, we have been able to provide them with a bespoke solution to meet their needs.
“We look forward to strengthening our partnership with the team over the years to come.”
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